Savills reported revenue growth of 7% and underlying profit growth of 38% for the financial year ended 31 December 2024.
Group revenue rose from £2.24bn in 2023 to £2.4bn last year with underlying profit before tax increasing to £130.4m from £94.8m the previous year.
Savills said that revenue growth had been driven by a strong performance across most business lines, with global transactional advisory revenues up 13%, global residential revenues up 6% and consultancy and property and facilities management revenues up 8% and 5% respectively.
Revenue at Savills Investment Management decreased by 11% and the value of assets under management fell slightly to £21.7bn from £22.1bn in 2023.
Mark Ridley (pictured), group chief executive of Savills, said: “Savills improved performance in 2024 reflects the robust earnings provided by our less transactional businesses together with the effect of our inherent operating leverage in the early recovery of transactional markets. Most markets were in recovery as we entered 2025 and, whilst uncertainty continues, there remains the expectation of reductions in the cost of capital during the year.
“We expect re-financing driven activity and the trend towards corporates requiring greater office attendance for staff to continue to be positive for transaction volumes. Savills remains well positioned to deliver against the group’s strategic objectives of broadening our offering to clients across geographies and service lines, supported by a strong balance sheet and thus driving profitability as market recovery continues.”
